Morgan Stanley Increases Public Service Enterprise Group (NYSE:PEG) Price Target to $95.00

Public Service Enterprise Group (NYSE:PEG) had its price target hoisted by equities research analysts at Morgan Stanley from $83.00 to $95.00 in a report issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s price target would indicate a potential upside of 8.70% from the company’s current price.

PEG has been the topic of a number of other research reports. Jefferies Financial Group assumed coverage on Public Service Enterprise Group in a research note on Friday, September 13th. They issued a “hold” rating and a $85.00 target price on the stock. Bank of America upped their price objective on Public Service Enterprise Group from $84.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Guggenheim upgraded Public Service Enterprise Group from a “neutral” rating to a “buy” rating and set a $82.00 price objective for the company in a research report on Monday, June 17th. Barclays upped their target price on shares of Public Service Enterprise Group from $71.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Finally, BMO Capital Markets lifted their price target on shares of Public Service Enterprise Group from $78.00 to $86.00 and gave the stock a “market perform” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $78.85.

Public Service Enterprise Group Stock Up 0.7 %

Public Service Enterprise Group stock opened at $87.40 on Monday. Public Service Enterprise Group has a fifty-two week low of $53.71 and a fifty-two week high of $87.40. The firm has a market capitalization of $43.53 billion, a price-to-earnings ratio of 24.03, a price-to-earnings-growth ratio of 3.09 and a beta of 0.60. The stock’s fifty day moving average is $79.70 and its two-hundred day moving average is $73.67. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.46 and a current ratio of 0.65.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, July 30th. The utilities provider reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.01). Public Service Enterprise Group had a net margin of 16.12% and a return on equity of 10.72%. The business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter last year, the business posted $0.70 earnings per share. The business’s revenue was up .1% compared to the same quarter last year. Analysts predict that Public Service Enterprise Group will post 3.67 EPS for the current fiscal year.

Insider Activity

In related news, EVP Tamara Louise Linde sold 19,127 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $80.26, for a total transaction of $1,535,133.02. Following the completion of the sale, the executive vice president now owns 67,524 shares of the company’s stock, valued at approximately $5,419,476.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,378 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $80.69, for a total transaction of $111,190.82. Following the transaction, the chief executive officer now owns 148,892 shares in the company, valued at $12,014,095.48. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Tamara Louise Linde sold 19,127 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $80.26, for a total value of $1,535,133.02. Following the completion of the sale, the executive vice president now owns 67,524 shares of the company’s stock, valued at approximately $5,419,476.24. The disclosure for this sale can be found here. Insiders have sold 30,068 shares of company stock valued at $2,406,965 in the last three months. Corporate insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On Public Service Enterprise Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Brighton Jones LLC lifted its position in shares of Public Service Enterprise Group by 1.8% during the second quarter. Brighton Jones LLC now owns 7,430 shares of the utilities provider’s stock worth $548,000 after purchasing an additional 131 shares in the last quarter. Bryn Mawr Capital Management LLC lifted its holdings in Public Service Enterprise Group by 0.5% in the 2nd quarter. Bryn Mawr Capital Management LLC now owns 25,739 shares of the utilities provider’s stock worth $1,905,000 after buying an additional 135 shares in the last quarter. Crestwood Advisors Group LLC boosted its position in Public Service Enterprise Group by 4.1% in the 2nd quarter. Crestwood Advisors Group LLC now owns 3,853 shares of the utilities provider’s stock valued at $284,000 after buying an additional 153 shares during the last quarter. Evergreen Wealth Solutions LLC grew its stake in shares of Public Service Enterprise Group by 1.7% during the first quarter. Evergreen Wealth Solutions LLC now owns 9,697 shares of the utilities provider’s stock valued at $648,000 after acquiring an additional 159 shares in the last quarter. Finally, Kowal Investment Group LLC increased its position in shares of Public Service Enterprise Group by 2.7% during the second quarter. Kowal Investment Group LLC now owns 5,981 shares of the utilities provider’s stock worth $441,000 after acquiring an additional 160 shares during the last quarter. 73.34% of the stock is owned by institutional investors and hedge funds.

Public Service Enterprise Group Company Profile

Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.